- A code of ethics can help address an organisation’s operational and integrity risks, claims CCAB

An effective code of ethical conduct can only be effective if it is promoted and championed throughout the organisation, asserts a new publication from CCAB called Developing and Implementing a Code of Ethical Conduct.

The guidance is aimed at professional accountants intending to develop or enhance codes of conduct within their organisations, but CCAB believes that the advice and guidance could be applicable to a wider audience, in the private, public and not for profit sectors.

CCAB says that a code of ethical conduct is important because it provides an organisation with a clear and consistent benchmark for ethical behaviour, and that a code can “help build a values driven organisation.”

Anthony Harbinson, chair of CCAB and Director of Safer Communities, for the Northern Ireland Department of Justice says: “The financial crisis has turned the spotlight on integrity within the business community. Rightly, behaviours, codes and rules have been questioned. But our belief is that a code of ethical conduct can make a difference – it can play an important part in resolving ethical dilemmas.

“Tone from the top matters – not just in the accountancy profession, but in wider business, and in the public sector too. And a code of ethical conduct needs be understood and owned by all within the organisation.”

The guidance looks at the objectives of a code and the elements that form it, such as a mission statement; high level values; ethical principles and specific behaviours. While not intending to be prescriptive, it also proposes a structure on which a code can be based.

CCAB’s guidance also looks at the contentious issues of whistle-blowing and speak up obligations, which the CCAB says are important within an ethical framework.

Anthony Harbinson concludes: “Employees and subcontractors must have the confidence to challenge others when a breach of the code of ethical conduct is suspected. It is also advisable to make staff aware of external organisations that support whistle-blowers.

“A code needs to be a living document, reviewed regularly by employees, and by management. It also needs to be benchmarked externally, with a view to identifyingany areas where positive improvements could be made.”

The CCAB bodies - ICAEW, ACCA, ICAS, CIPFA, and Chartered Accountants Ireland – are all signatories to the IESBA Code, which has five fundamental ethical principles – integrity; objectivity; professional competence and due care; confidentiality and professional behaviour.

The report can be found on CCAB’s website here:

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For further information please contact Shane Finnegan or Katrina Frazer at Aiken PR on 028 9066 3000

Notes to Editors1. The combined membership of the five CCAB bodies - ICAEW, ACCA, ICAS, CIPFA and Chartered Accountants Ireland - amounts to 245,000 professional accountants in the UK and the Republic of Ireland (354,000 worldwide), according to recent statistics from the Financial Reporting Council (FRC). These significant numbers enable CCAB to speak with authority for the UK accountancy profession.2. ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.3. There are over 20,000 members and students in Ireland.4. We support our 162,000 members and 428,000 students in 173 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of over 89 offices and centres and more than 8,500 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence.5. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and delivery to meet the diverse needs of trainee professionals and their employers.